v3.26.1
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE:
Basic earnings per share is computed by dividing net income or net loss by the weighted average shares outstanding during the reporting period. Diluted earnings per share is computed similarly to basic earnings per share, except that the weighted average shares outstanding are increased to include, if dilutive, additional shares from stock options, restricted stock units, performance share units and shares that were issuable upon conversion of CNX's outstanding 2.25% convertible senior notes in May 2026 (the "Convertible Notes") (See Note 10 – Long-Term Debt). The number of additional shares was calculated by assuming that outstanding stock options were exercised, that outstanding restricted stock units and performance share units were released, that the shares that were issuable from the conversion of the Convertible Notes were issued and that the proceeds from such activities were used to acquire shares of common stock at the average market price during the reporting period. In periods when CNX recognizes a net loss, the impact of outstanding stock awards and the potential share settlement impact related to CNX's Convertible Notes are excluded from the diluted loss per share calculation as their inclusion would have an anti-dilutive effect.

The table below sets forth the share-based awards that have been excluded from the computation of diluted earnings per share because their effect would be anti-dilutive:
 For the Three Months Ended June 30,For the Six Months Ended June 30,
 2026202520262025
Anti-Dilutive Restricted Stock Units264,134 272,463 31,919 263,930 
Anti-Dilutive Performance Share Units119,313 — 119,313 — 
383,447 272,463 151,232 263,930 

On January 28, 2026, in accordance with the indenture governing the Convertible Notes, CNX issued a notice of settlement method election for all of the outstanding Convertible Notes providing that CNX would settle any of the Convertible Notes outstanding by issuing shares of the Company's common stock, together, if applicable, with cash in lieu of fractional shares, as provided for in the indenture. Subsequently, on May 1, 2026, the Convertible Notes matured for a net settlement of 12,636,743 net shares delivered to the noteholders.

The table below sets forth the share-based awards that have been exercised or released:
 For the Three Months Ended June 30,For the Six Months Ended June 30,
 2026202520262025
Options130,155 15,999 279,430 98,006 
Restricted Stock Units63,118 98,695 659,417 731,083 
Performance Share Units— — 455,069 483,570 
193,273 114,694 1,393,916 1,312,659 
The computations for basic and diluted earnings per share are as follows:
For the Three Months Ended June 30,For the Six Months Ended June 30,
 2026202520262025
Net Income$202,943 $432,521 $551,090 $234,806 
Basic Earnings Available to Shareholders$202,943 $432,521 $551,090 $234,806 
Effect of Dilutive Securities:
Add Back Interest on Convertible Notes (Net of Tax)$324 $1,396 $1,295 $2,791 
Diluted Earnings Available to Shareholders$203,267 $433,917 $552,385 $237,597 
Weighted-Average Shares of Common Stock Outstanding
148,155,232 143,429,950 145,195,159 145,592,034 
Effect of Diluted Shares:
Options255,770 569,960 319,952 578,015 
Restricted Stock Units851,433 1,148,725 860,336 1,127,351 
Performance Share Units486,590 846,092 497,307 851,337 
Convertible Notes4,212,248 25,751,869 8,424,495 25,751,869 
Weighted-Average Diluted Shares of Common Stock Outstanding153,961,273 171,746,596 155,297,249 173,900,606 
Earnings per Share:
Basic$1.37 $3.02 $3.80 $1.61 
Diluted$1.32 $2.53 $3.56 $1.37